Now showing items 360-379 of 564

    • Pooling in insurance 

      Aase, Knut K. (Discussion paper, Working paper, 2003-01)
      Risk sharing resulting in pooling of risk is considered. First pooling is discussed from the perspective of life and pension insurance. Second we take the perspective of Pareto optimal risk sharing, originating from a model ...
    • Pragmatic beliefs and overconfidence 

      Hvide, Hans K. (Discussion paper, Working paper, 2000-06)
      Several studies indicate that humans are overconfident about their own (relative) abilities. We propose a notion of pragmatic beliefs, and show through an example that this concept can shed light on why overconfidence ...
    • Precautionary Storage in Electricity Markets 

      Durmaz, Tunç (Discussion paper;5/16, Working paper, 2016-02-25)
      As renewable energy depends on meteorological shocks and is non-controllable, the overall energy production becomes riskier with the rising renewable share. Although this has led to a renewed interest in storage technologies, ...
    • Predetermined Assembly Size and Equal Influence in MMP-Elections 

      Stensholt, Eivind (Discussion paper;11/22, Working paper, 2022-06-21)
      In MMP-elections (Mixed Member Proportional representation), a QP-ballot contains a first-vote for party Q’s candidate in a single-seat constituency and a second-vote for a list of candidates from party P in one common ...
    • Preferansevalg: Opptellingsregler og velgeradferd 

      Stensholt, Eivind (Discussion paper;08/2013, Working paper, 2013-08)
      Ved preferansevalg gir velgeren en mer eller mindre fullstendig rangering av alternativene eller kandidatene. Hovedtemaene på disse sidene presenteres i innledningskapitlet: tre store familier av preferansevalg, nemlig ...
    • Pricing Implications of Shared Variance in Liquidity Measures 

      Chollete, Lorán; Næs, Randi; Skjeltorp, Johannes A. (Discussion paper, Working paper, 2006-07)
      This paper constructs fundamental liquidity measures and investigates the pricing implications of shared variation in a large set of high frequency liquidity measures. Through a common factor analysis we estimate three ...
    • A pricing model for yield contracts 

      Aase, Knut K. (Discussion paper, Working paper, 2002)
      An economic model is proposed for the analysis of quantum and revenue hedges, and prices of contingent claims on revenue and quantum are presented and discussed. In particular we discuss how one can use futures, and futures ...
    • A pricing model for yield contracts 

      Aase, Knut K. (Discussion paper, Working paper, 2002)
      An economic model is proposed for a combined price futures and yield futures market. The innovation of the paper is a technique of transforming from quantity and price to a model of two genuine pricing processes. This is ...
    • Pricing of rate of return guarantees on multi-period assets 

      Lindset, Snorre (Discussion paper, Working paper, 2001-06)
      The basis for this paper is the pricing of multi-period rate of return guarantees. These guarantees can typically be found in life insurance and pension contracts. We derive closed form solutions, expressed by the cumulative ...
    • Pricing rate of return guarantees in a Heath-Jarrow-Morton framework 

      Miltersen, Kristian R.; Persson, Svein-Arne (Discussion paper, Working paper, 1998-07)
      Rate of return guarantees are included in many financial products, for example life insurance contracts or guaranteed investment contracts issued by investment banks. The holder of such a contract is guaranteed a fixed ...
    • Pricing wind: A revenue adequate, cost recovering uniform price for electricity markets with intermittent generation 

      Zakeri, Golbon; Pritchard, Geoff; Bjørndal, Mette; Bjørndal, Endre (Discussion paper;15/16, Working paper, 2016-09-06)
      With greater penetration of renewable generation, the uncertainty faced in electricity markets has increased substantially. Conventionally, generators are assigned a pre-dispatch quantity in advance of real time, based on ...
    • Probabilistic cost efficiency and bounded rationality in the newsvendor model 

      Ubøe, Jan; Andersson, Jonas; Jörnsten, Kurt; Lillestøl, Jostein; Sandal, Leif Kristoffer (Doctoral dissertation;41/14, Working paper, 2014-12)
      In this paper we establish a link between probabilistic cost efficiency and bounded rationality in the newsvendor model. This establishes a framework where bounded rationality can be examined rigorously by statistical ...
    • Probabilistic forecasting of electricity prices using an augmented LMARX-model 

      Andersson, Jonas; Sheybanivaziri, Samaneh (Discussion paper;11/23, Working paper, 2023-07-11)
      In this paper, we study the performance of prediction intervals in situations applicable to electricity markets. In order to do so we first introduce an extension of the logistic mixture autoregressive with exogenous ...
    • Product quality, competition, and multi-purchasing 

      Anderson, Simon P.; Foros, Øystein; Kind, Hans Jarle (Discussion paper;2012:9, Working paper, 2012-08)
      In a Hotelling duopoly model, we introduce quality that is more appreciated by closer consumers. Then higher common quality raises equilibrium prices, in contrast to the standard neutrality result. Furthermore, we allow ...
    • Productivity Development for Norwegian Electricity Distribution Companies 2004-2013 

      Cheng, Xiaomei; Bjørndal, Endre; Lien, Gudbrand; Bjørndal, Mette (Discussion paper;27/15, Working paper, 2015-10-07)
      Norwegian distribution companies have been subjected to an incentive regulation scheme from 1997, and the efficiency incentives were further strengthened with the introduction of yardstick regulation in 2007. We examine ...
    • Profit shifting and the effect of stricter transfer pricing regulation on tax revenue 

      Bakke, Julia Tropina; Hopland, Arnt Ove; Møen, Jarle (Discussion paper;11/19, Working paper, 2019-10-03)
      Using a 20-year-long, population-wide panel with detailed firm and group level data from Norway, we study the profitability change in companies that shift from being domestic to being multinational as well as companies ...
    • Profit-shifting in two-sided markets 

      Schindler, Dirk; Schjelderup, Guttorm (Discussion paper, Working paper, 2009-04)
    • Profitable Robot Strategies in Pari‐Mutuel Betting 

      Bjerksund, Petter; Stensland, Gunnar (Discussion paper;6/17, Working paper, 2017-04-07)
      We have collected odds and results from 7 474 horse races in Norway and Sweden for a period of approximately 1.5 years. Based on the odds from the win game, we construct a profitable betting strategy for the corresponding ...
    • The propagation of financial extremes 

      Chollete, Lorán (Discussion paper, Working paper, 2008-07)
      What drives extreme economic events? Motivated by recent theory, and events in US subprime markets, we begin to open the black box of extremes. Specifically, we extend standard economic analysis of extreme risk, allowing ...
    • The propagation of financial extremes: an application to subprime market spillovers 

      Chollete, Lorán (Discussion paper, Working paper, 2007-12)
      What drives extreme and rare economic events? Motivated by recent theory, and events in US subprime markets, we begin to open the black box of extremes. Specifically, we build a taxonomy of extremes, then extend standard ...